EUR/USD : Exit of its medium term bearish channel
--- New analysis ---
The pair EUR/USD has validated yesterday at the end of the afternoon the exit of its medium term bearish channel (blue lines in h1).
We advise to traders to wait an exit of the range 1.29/1.2950 to take position:
- Long if 1.2950 is broken. The breakout of 1.30 will give a new buy signal and will open the way towards 1.3050
- Short if 1.29 is broken. The first objective will be set at 1.2850. The breakout of this level should allow the price to reach 1.28.
Traders with a more agressive strategy could trade the pair according to 1.2925 (long above and short below).
Analysis published by Vincent, the 09/28/2012 at 110h00 GMT+2
Chart of the pair EUR/USD - Timeframe 1H
Chart of the pair EUR/USD - Timeframe 4H
|EUR/USD Live Chart - Timeframe : 4h|
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